The 32-year-old striker’s contract expires at the end of the season, and he has been told it will not be renewed.
The Argentine, who signed from Atletico Madrid in 2011, has scored 257 goals in 384 appearances for the club.
“With the guidance of the owners and the contributions of many players, we earned a place among the greatest of the world,” Aguero said.
He will be honoured by a statue at Etihad Stadium, alongside title-winning captain Vincent Kompany and influential playmaker David Silva, who left the club in 2019 and 2020.
The trio played leading roles in City’s renaissance, with Aguero famously scoring the injury-time winner against QPR in 2012, which clinched the club’s first English title in 44 years.
Since then, the striker has helped City win three more Premier League titles, one FA Cup and five League Cups.
“Sergio’s contribution to Manchester City over the last ten years cannot be overstated,” City chairman Khaldoon Al Mubarak said.
“His legend will be indelibly etched into the memories of everyone who loves the club and maybe even in those who simply love football.”
This would be significant news – even if it had been half-expected given Aguero’s lack of game time.
The prolific striker has made only 14 appearances this season, partly through injury. Still, even after recovering from the knee problem that ruled him out of the end of the last term, he has regularly been overlooked as manager Pep Guardiola opted to select either Gabriel Jesus in the number nine role or play without an orthodox striker altogether.
As Guardiola is known to want a striker for next season and has already been heavily linked with Borussia Dortmund’s prolific forward Erling Braut Haaland, it was apparent keeping Aguero was not inevitable, even though as recently as a month ago, sources close to the player felt it was possible he could stay.
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